| 1 |
Commercial letter of credit is issued for the facilty of: |
- A. Ambassadors
- B. Common people
- C. Businessmen
- D. Alll of the above
|
| 2 |
If the exporter is not the receiver (beneficiary) of money then a letter of credit is called: |
- A. Resolving
- B. Back to Back
- C. Transferable
- D. None of the above
|
| 3 |
IOU is a document |
- A. Negotiable
- B. Non-negotiable
- C. Conditional negotiable
- D. Unconditional negotiable
|
| 4 |
Which of the following is an order of payment by one post office for another post office |
- A. Postal order
- B. Money order
- C. Both a and b
- D. None of these
|
| 5 |
Where are the stock certificates sold and bought |
- A. At commercial bank
- B. At central bank
- C. At post office
- D. At stock exchange
|
| 6 |
Stock certificate is a document issued by |
- A. Commercial bank
- B. Central bank
- C. Limited companies
- D. Stock-market
|
| 7 |
What does IOU mean |
- A. I am a debtor to you
- B. I am a creditor to you
- C. Both a and b
- D. None of these
|
| 8 |
Which letter of credit is issued for a single or particular transaction: |
- A. Fixed
- B. Revocable
- C. Red clause
- D. Green Clause
|
| 9 |
The first stage or step between importer and exporter for the purpose of sale and purchase is: |
- A. Oath or undertaking
- B. Agreement
- C. Contract with bank
- D. Issuing of L.C
|
| 10 |
Which letter of credit is automatically renewed by fulfilling certain conditions |
- A. Fixed
- B. Documentary
- C. Confirmed
- D. Revolving
|
